Mark Cuban: He took a ‘hit’ from crypto token crash

>>> MARK CUBAN SAYING HE TOOK A QUOTE HIT FROM A CRYPTOCURRENCY TOKEN CRASH, TIGHT TAN PLUNGED $60 TO A FRACTION ABOVE ZERO THIS MORNING LAST NIGHT, CUBAN TWEETING I GOT HIT LIKE EVERYONE ELSE, THE CRAZY PART IS I GOT OUT, THOUGHT THEY WERE INCREASING THEIR TVL ENOUGH, AND THEN BAM SAME DAY THAT COINBASE WAS REITERATED SELL AT RAY JAY THOUGHT THOUGHT I WOULD MENTION THAT BECAUSE WE'RE TALKING ABOUT CRYPTO, AND EVEN THE BEST AND THE BRIGHTEST ARE NOT IMMUNE TO THESE SWINGS >> PANIC SALE.

I WAS, WHEN I READ IT, I MEAN I OWN, I HAD AS WAS SUGGESTED 5% OF MY ASSETS IN ETHEREUM AND BITCOIN, AND I READ THIS, AND I SAY OKAY, THAT WAS THE LONG ONE. THE GUY RAISED POINTS ABOUT TETHER THE OTHER DAYSAYING THE BALANCE SHEET IS BAD, AND THAT'S AN INTERACTION METHOD FOR COINS AND THE NEW YORK STATE ATTORNEY GENERAL WON'T LET THEM BE IN NEW YORK AND NO ONE CARED AT ALL IT WAS LIKE, THAT PIECE WAS LIKE A THREE-FOLD, I DID TWO PIECES ON IT BECAUSE I HAD TIM ON, THE COMMODITY FUTURES TRADING AND HE WAS WORRIED ABOUT TETHER, AND I THINK PEOPLE YAWNED AND WOULD RATHER PLAY TETHER BALL THAN WORRY ABOUT TETHER.

>> THE MORAL OF THE STORY MAY BE, JIM, THAT IT DOESN'T NECESSARILY MATTER WHO THE BIG NAME IS, WHO HAPPENS TO BE A SUPPORTER OF X, Y, Z, CRYPTOCURRENCY. >> YES. >> IT IS SO VOLATILE THAT A LOT OF THESE MOVES ARE DRIVEN BY THE MUSKs, THE DORSEYs. >> PERHAPS — >> THE CUBANs OF THE WORLD AND THEY CAN STILL LOSE. YOU CAN STILL HAVE EXTREME VOLATILITY. >> JUST BECAUSE YOU'RE A BILLIONAIRE, THIS IS A GOOD LESSON FOR CNBC, JUST BECAUSE YOU'RE A BILLIONAIRE DOESN'T MEAN YOU'RE ALWAYS RIGHT BILLIONAIRES GET IT WRONG, TOO, OKAY AND I DO WANT TO POINT OUT THAT IT'S AGAIN IDEOLOGICAL, THAT PEOPLE THINK YOU CAN'T LOSE MONEY AND YOU SAY IF YOU SELL, YOU'RE BREAKING THE RANKS.

YOU'RE BREAKING THE RANKS OF IT. THIS IS NOT BRAVE HEART. THIS IS MONEY. >> DO YOU HAVE A LOOK AT COINBASE SELL, UNDERPERFORM >> I'M WITH MOFFETT NATHANSON, I'VE BEEN DISAPPOINTED. >> IT'S LIKE FOUR SOMETHING. 400-SOMETHING AT IPO I HAVE BEEN DISAPPOINTED WITH THEM I MEAN LIKE WOW. NOT GOOD >> THERE'S ALWAYS CATHIE WOOD OUT THERE TO BUY SOME MORE. >> LIKE ROBLOX. >> SHE WILL BUY MORE IT WILL BE DOWN AGAIN TODAY AND SHE WILL BUY ROBLOX,.

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